When you take out a personal loan in India, one of the most important things to understand is how the interest on your loan is calculated. The interest you pay on a loan determines how much extra you'll pay in addition to the amount you borrowed. Knowing how to calculate loan interest can help you plan your finances better and avoid surprises. In this blog, we'll explain the two main types of interest calculation methods used in India: Simple Interest and Amortized Interest. What is a Personal Loan? Before we get into the details of interest calculation, let's quickly recap...